FG Approves Licence For 2.8m Floating LNG Plant 

The Federal Government has approved the request of UTM Offshore Limited to build a 2.8 million tonnes floating LNG plant in Akwa Ibom State.
This would be the first floating LNG project in Nigeria projected to cost over $2 billion and the first of its kind in Nigeria.
In its Official X, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) disclosed that it granted a licence to construct to the company for a Liquefied Natural Gas (LNG) project, with an estimated production capacity of 2.8 million metric tons annually.
The statement reads, “The NMDPRA issued a Licence to Construct (LTC) to UTM Offshore Ltd for the first Floating Liquefied Natural Gas (FLNG) in Nigeria.
“The project, which is located in Akwa Ibom State, is aimed at processing 324 MMSCF/D of natural gas and producing LPG, condensate, and 2.8 million tonnes of LNG per year”.
According to the statement, the NMDPRA boss stated that the UTM was originally granted a license in 2019 to build a facility with a capacity of 1.2 million tons per annum. However, this capacity was later increased to 2.8 million tons due to rising demand for LNG in the market.